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IFA (Index Fund Advisors)

Anyone have an account with them? Is it safe? What's your opinion on index funds? I'm really thinking of opening an account there. Index Funds seem like a good way to start investing for novices (like me)

Nothing wrong with index funds, but...if I'm going to invest in index funds, I'd go with ETFs instead, which basically ARE index funds but give you more flexibility. With index funds, you won't be able to place protective stops, you'll have short-term redemption fees, end of day pricing, etc. You'll have none of that with ETFs.

And I'd suggest reading up on asset allocation & diversification rather than paying some advisor to tell you what combination of index funds to invest in. Better to learn this stuff yourself than count on someone else to make decisions for you.

One added advantage now with ETFs (instead of funds)... there are Ultrashorts. The way it used to be, you can only profit from an up market. With Ultrashorts, if you are bearish on the market you can buy them and profit from a down market. Some are leveraged - which means they rise/fall faster than the indices/broad-markets. But you must be careful with those as a novice. The sharp edge goes both ways.